The Allure of Empty Promises: Staying Vigilant in Community Banking

In one of his recent blogs, Seth Godin asks why do we often fall for the pitches of smooth talkers, con artists, demagogues and tricksters? 

As our world becomes more informed and rational, paradoxically, we see an increase in scams, hustles and chaos. As Community bankers you are particularly targeted by these schemes, as your inboxes are flooded with offers that seem too good to be true. The truth of it is that these schemes wouldn’t succeed without support. Often we look for shortcuts. 

What makes these shortcuts so attractive? 

Human culture is reshaped by those who challenge the norm. Successful innovations in banking, technology and services can initially resemble empty promises of get-rich-quick schemes. The allure of these false promises is driven by several factors: 

• Complacency: When things feel safe, our boredom might lead us to seek adventure or a quick win. 
• Greed: As a driving force of capitalism, greed makes us want more, often without effort. 
• Despair: A lack of hope can make existing paths seem inadequate, leading us to seek out new, albeit risky, opportunities. 

The good news is that we don’t fall for every scam. We’ve become more resilient against broken promises. Our culture encourages us to seek shortcuts, but it can also save us from them. 

For community banks, being part of a truthful, transparent community that values long-term thinking is crucial. Building a culture that establishes high standards for keeping promises and values sustainable growth helps to prevent falling prey to scams. Connections within the community provides the traction needed to move forward. 

We ALL have the power to choose which community narrative to absorb and share with our teams and clients. By picking a culture of integrity and long-term vision, we protect ourselves and those we serve. 

No shortcuts, no hustles, no quick fixes. The long run matters. Honor the rules that protect everyone because any one of us might need that protection one day. 

If this is the circle you’d like to be part of, join one, start one, talk about it, and don’t stop. It works at home as well as at the bank.

While breakdowns are inevitable, so is the possibility for positive growth and resilience. 

Contact our team to learn more about how we can help!